Restaurant with Equipped
New
For Sale
$349,999
1035 Mason Street, Dearborn, MI 48124
The 2025-built space is currently operating as KRUM in Downtown West Dearborn.
Property Size1,800 SF
Price / SF$194.44
Days on Market2
Property Features for 1035 Mason Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
2025
Listing Agency:
Empire Realty Fawaz & Arzouni
Listed By:
Malek Harajli · License #461859
(734) 956-5515
Source:
Bhhssnyder
Added: Sep 24
Last Checked: Sep 24 at 2:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Empire Realty Fawaz & Arzouni
Investment Insights
Based on property information with market context.
This 1,800-square-foot restaurant was built in 2025 and has a renovated interior, a fully equipped kitchen, and equipment included in the sale. The space is currently operating as KRUM, with the existing restaurant concept or a new concept as potential directions for the property.
Located in Downtown West Dearborn, the restaurant is minutes from Ford Motor Company’s headquarters and near established businesses, shopping, and the downtown dining scene.
Located in Downtown West Dearborn, the restaurant is minutes from Ford Motor Company’s headquarters and near established businesses, shopping, and the downtown dining scene.
Key Highlights
- 1,800‑square‑foot restaurant
- Built in 2025 with a renovated interior
- Fully equipped kitchen; equipment included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,624
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,480
$492.5K
Cap Rate 7%
$351,771
$351.8K
Cap Rate 9%
$273,600
$273.6K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.6K $19.20/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$32.8K $18.24/SF
− OpEx
−$8.2K −$4.56/SF
NOI
$24.6K $13.68/SF
Area
Dearborn, MI
Vacancy
5.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,480
Cap Rate 7%
$351,771
Cap Rate 9%
$273,600
Alternative Uses
Best Use
Specialty Retail
$351.8K
$307.8K – $410.4K
NOI $24,624 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.1K
$347.5K – $463.3K
NOI $27,796 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
203k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 19%
Home Improvements & Furnishings 9%
Apparel 8%
Ford's Garage
Dining
45,220 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
18,533 visits/mo
0.1 miles
Buddy's Pizza
Dining
15,252 visits/mo
0.1 miles
Tim Hortons
Dining
14,359 visits/mo
0.5 miles
Mobil
Shops & Services
12,157 visits/mo
0.4 miles
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The 2025-built space is currently operating as KRUM in Downtown West Dearborn.
Where is this conventional restaurant located?
The property is located at 1035 Mason Street Dearborn, MI.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: 1,800‑square‑foot restaurant; Built in 2025 with a renovated interior; Fully equipped kitchen; equipment included in the sale
